The Development of Cryptocurrencies and the Traditional Banking System: Competition or Complementarity ?
Since the launch of Bitcoin in 2009, the cryptocurrency market has undergone significant changes and is beginning to be accepted by global financial institutions. The increase of public awareness and adoption of crypto is a major factor influencing the development and growth of these digital assets....
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| Published: |
2022
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| Online Access: | https://depot.sorbonne.ae/handle/20.500.12458/1553 |
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| Summary: | Since the launch of Bitcoin in 2009, the cryptocurrency market has undergone significant changes and is beginning to be accepted by global financial institutions. The increase of public awareness and adoption of crypto is a major factor influencing the development and growth of these digital assets. Cryptocurrencies are challenging global commodity currencies and becoming a preferred payment method due to their many advantages. Public perceptions of cryptocurrencies will have an impact on the future development and utilization of cryptocurrencies for global payments. Consequently, the reaction and position of public authorities and central banks towards cryptocurrencies and their associated technology “blockchain” will determine whether crypto acts a source of threat or opportunity to financial institutions. |
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